In late 2013 Porsche announced ambitious plans to sell 200,000 vehicles annually by 2018. At first blush, it seemed like a pretty lofty goal. Now, not even two years later it looks like Porsche could hit that goal three years early.
In 2014, Porsche delivered 189,850 new cars to customers all over the world. Now, half way through 2015, we’ve learned that Porsche has had its best half-year in the company’s history. Porsche delivered 113,984 new vehicles in the first six months of 2015. That’s a 30% increase over the same period in the prior year. So, assuming the market stays strong, demand continues and no problems with supply, it looks like Porsche will hit the 200,000 mark some time in the 4th quarter of 2015.
Along with the increase in deliveries comes the expected increase in sales dollars. Revenue rose 33% to 10.85 billion euros. More importantly, Porsche’s operating profit surpassed last year’s figure by 21% and reached 1.70 billion euros. That’s pretty impressive bottom line growth when you consider Porsche’s total number of employees grew by 10%, to 23,477 employees, during the same period.
What Is Porsche’s Growth Coming From?
According to Matthias Müller, Chairman of the Executive Board of Porsche AG, there are two keys reasons for the growth: China and the number of models available. “All models and derivatives that we recently launched on the markets have proven to be top sellers”, explained Matthias Müller. “This pertains to the brand new Macan model series as much as it does to the new GT models 911 GT3 RS and Cayman GT4, plus the new GTS versions 911 Targa GTS, 911 Carrera GTS and Cayenne GTS.”
Even with China’s recent market troubles, Porsche continues to post sales figures that point upward, elaborated Matthias Müller, and supplied the reasons by stating that:
“In China as well, we have won over many new customers with the new Macan. The SUV is exactly the right model at the right time.”
What Do You Think
It looks like Porsche is well on their way and needs less than 90% of the sales they did in the first half of the year. Do you think they’ll make it to 200,000 in vehicles sold in 2015 or will the global economy get in the way?